试论后积极财政政策的政策选择——兼论我国政策性银行和邮政储蓄的财政化定位

The Choice of the Late Active Fiscal Policy——The Fiscal Location between our Policy Bank and the Post Office Savings

积极财政政策取得明显成效,但必须逐步退出。明智的选择是逐步弱化使之淡出,并预先研究淡出后的接续政策。在后积极财政政策选择中,政策性银行的财政化定位,是政府弥补市场金融资源配置缺口的重要途径;邮政储蓄的财政化定位,可以校正全社会资金异动,使政策性银行取得稳定的信贷资金来源。二者改由财政部主管,邮政储蓄吸收的存款采取内部定价方式转给政策性银行,严格按政府政策意图贷给服务对象。政策性银行经营中的政策性亏损或预算的财政贴息项目,由财政及时弥补,达到四两拨千斤的功效。

The active fiscal policy has achieved a lot. Now, the wise choice is to weaken the action of the fiscal policy and fade it out, and at same time, supply the succeed policy. In the late stage of the active fiscal policy, the fiscal location of the policy bank is to make up for the gap of the financial resources of the market. The fiscal location of the post office savings is to adjust the variations of the total social capital in order to supply the police bank a sufficient capital resources. The two parts are managed by the Ministry of Finance. The resource from the post office saving deposits can be transferred to the policy bank based on the transfer price, and the bank grants a loan to the clients according to the intentions of the government. The losses permitted by policy in the operating process of the policy bank or the program of the fiscal interest subsidies are made up by the financial resources. Thus, fiscal tool acts as an economical lever.